Marathon’s import sprint may be ended by coronavirus, OPEC+ deal — Panjiva
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Marathon’s import sprint may be ended by coronavirus, OPEC+ deal

Coronavirus 511 Energy - Conventional 447 Energy - Crude Oil 300 U.S. 5316

The U.S. oil industry has faced pressure both from a coronavirus-linked drop in demand for fuel as well as the Russia-Saudi Arabia price war. The latter has been resolved in part via the recent OPEC+ deal but the former continues to be a challenge. Marathon has reduced runs at its Gallup, NM refinery in response to lower demand according to S&P Global Platts. U.S. seaborne imports of crude linked to the firm had climbed 10.0% higher year over year in March. Other major importers have been cutting their supplies. In Q1 overall imports linked to Marathon rose by 36.8% while those associate...

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